Group buys complexes for $77 mil

Bascom Arizona Ventures LLC, serving as the Arizona partnership of the Bascom Group of Irvine, Calif., purchased three Valley apartment complexes for $77.12 million. Bascom paid Coldwater Springs Apartments LLC, a partnership led by Fore Property Co. of Las Vegas, $27.2 million for Coldwater Springs Apartments, a 301-unit complex at 12115 W. Van Buren St. in Avondale. Bascom paid Variable Annuity Life Insurance Co. of Texas $14.35 million for Madera Point, a 256-unit apartment community at 445 S. Dobson Road in Mesa; and it paid Variable $35.57 million for Brookstone at the Foothills, a 528-unit complex at 4424 E. Baseline Road in Phoenix. Jim Crews, Brett Polachek and Tara Lewis of Cushman & Wakefield represented the buyer. The sellers were all self-represented.

Tucson 516 LLC sold 516 acres southwest of Ajo Highway and Valencia Road within the Sendero Pass Specific Plan in Pima County to SBH Sendero LP for $2.84 million. Will White of the Land Advisors Organization represented the seller. The buyer was self-represented.

Sutter's Mill Specialties Inc. of Tempe signed a 10-year lease for Liberty Tech Center, a 46,725-square-foot warehouse building at 921 S. Park Lane in Tempe with Liberty Property Trust of Malvern, Pa. Bill Bayless and Andrew Brigham of CBRE in Phoenix represented the landlord, and Paul Anton of Elmalon Partners of Scottsdale represented the tenant. Exact financial terms of the transaction were not disclosed.

Promotions and hires

Bruce Marsh and Greg Phillips joined Curis Resources Arizona Inc. in Florence. Marsh joined as senior vice president of strategic affairs and corporate development. He is an engineer with more than 25 years of experience in the copper-mining industry. In his new role at Florence Copper, the company's flagship project, he will be key in project permitting, external relations, the design and implementation of comprehensive sustainable development and new project evaluation and development. Phillips joined as process superintendent. He has more than 14 years' experience in mineral processing and solvent extraction and electrowinning plant operations. As process superintendent, he will be responsible for the planning, implementation and supervision of process, maintenance and reclamation activities at Florence Copper.

Ray Moyers and Rick Jay joined Johnson Carlier in Tempe as senior superintendents. Together they bring 55 years of experience. Each is responsible for the supervision of field construction, performance of subcontractors, verification of shop drawings and quality assurance.